AUDUSD’s rise from 1.0440 extended to as high as 1.0773. As long as 1.1011 key resistance holds, the rise is treated as consolidation of downtrend from 1.1011, and another fall towards 1.0250 is still possible after consolidation.
For long term analysis, AUDUSD had formed a cycle top at 1.1011 level on weekly chart. Deeper decline could be seen in next several weeks, and target is at 0.9500 area.
